real-time news and commentary for investors
Tuesday, Jul 30
More on American Capital Mortgage earnings
- $5.05 per share net loss from marks on agency MBS, offset by $3.68 in gains on hedges.
- $1.05 per share of spread and TBA dollar roll income
- Undistributed estimated taxable income of $0.43/share down $0.02 from Q1.
- Book value off 6.7% to $22.63; todays close of $19.42 has shares at 14.2% discount
- $8.8B investment portfolio consists of $7.8B in agency MBS, $931M in non-agency; $91M net long TBA position; portfolio size on March 31 was $11.8B.
- Leverage of 6.4x
- Average net interest spread of 2.3%, quarter-end spread of 1.96%; vs. 2.27% and 1.9% in Q1.
- 2.9M shares repurchased (4.9% of float) at average of $21.34 each.
- Earlier: Earnings report.
- MTGE shares +1.4% AH after climbing 5.7% in the regular session behind American Capital Agency's big move.